April is Financial Literacy Month! Tutor Tip Tuesday will be focused on different financial literacy topics to celebrate! Let’s take a look at our first topic of the month, cultural awareness in financial literacy!
As a tutor working with adult learners, you know that financial literacy isn’t just about numbers, it’s about people, their stories, and their values. Culture, experience, and beliefs deeply influence how we view and manage money. Being culturally aware of our students’ diverse backgrounds and life experiences can transform financial literacy lessons.
What Is Cultural Awareness in Financial Literacy?
Cultural awareness means acknowledging and respecting your students’ diverse backgrounds and incorporating that awareness into your instruction. When it comes to financial literacy, this means:
- Recognizing varying cultural attitudes toward money, debt, saving, and family obligations
- Being mindful of past financial trauma or systematic barriers students may have faced
- Using real-world examples and language that reflect your students’ experiences
Why It Matters
Money is a highly personal and cultural topic. What seems like sound financial advice in one culture may not apply or resonate in another. Consider:
- In some cultures, collective family financial responsibility is prioritized over individual savings
- Cash-based systems may be the norm in certain communities, while formal banking is less trusted or familiar
- Discussions about money may be considered private or even taboo
By not taking these factors into account, we risk alienating students or creating shame around their financial habits. Cultural awareness helps build trust, relevance, and ultimately, better learning outcomes.
How to Bring Cultural Awareness Into Financial Literacy Lessons
Here are several actionable ways you can create more inclusive and responsive financial literacy instruction:
Learn About Your Students’ Backgrounds
Start by asking open-ended questions about their financial experiences:
- How do they currently manage money?
- What kinds of jobs have they held?
- What role does family play in financial decision-making?
This not only helps you learn how to better adapt your lessons, but it validates your students’ experiences.
Build on Existing Knowledge
Many adult learners already juggle tight budgets, support families, or run small businesses. Don’t overlook these skills because they weren’t taught in a classroom.
- Connect informal financial practices (e.x., cash saving, informal lending circles) to formal concepts like budgeting or credit.
Use Diverse, Relatable Examples
Generic examples about mortgages or retirement planning might not resonate. Instead:
- Use scenarios involving sending money transfers to family back in their home country, gig work, or multi-generational households
- Talk about sending money abroad, pooling resources, or planning for community events
Redefine Financial Success
Financial success might mean different things to different students. For some, it’s homeownership; for others, it’s staying debt-free or being able to help family members.
- Encourage students to set personal financial goals that reflect their own values
Discuss Systemic Barriers
Don’t shy away from real-world challenges like predatory lending, lack of access to credit, or discrimination in banking.
- Help students learn how to identify safe resources and advocate for themselves
Choose Inclusive Language and Resources
- Avoid idioms or slang that may confuse learners from different backgrounds
- Provide multilingual materials when possible
- Use visuals and plain language to support understanding
Final Thoughts
By honoring your students’ experiences, traditions, and goals, you help them not only learn financial concepts but truly own them. When students see themselves reflected in your lessons, they become more confident, engaged, and prepared to take control of their financial futures.
Resources
FDIC Money Smarts For Adults: This is a free financial literacy program featuring 14 learning modules with videos, PowerPoints, and games for students. It is also available in Spanish.
University of Minnesota Culturally Responsive Finance: This resource is provided by the University of Minnesota. It has lesson plans, worksheets, vocabulary sheets, and other resources. Some of these resources may not be relevant to our area of the United States but provide a good model to customize your own lessons and worksheets.
